To Print the General Ledger

question 27

Multiple Choice

To print the General Ledger:

• A)Select Chart of Accounts icon > Print Report
• B)From the Company section of the Home page > select Trial Balance icon
• C)Select Report Center > Accountant & Taxes, General Ledger
• D)Select Company Center > Print General Ledger

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Definitions:

Cost Flow Assumption

Accounting methods that companies use to assign costs to inventory and cost of goods sold, such as FIFO, LIFO, and weighted average cost.

Gross Profit

The financial gain obtained after subtracting the cost of goods sold from total sales revenue.

Average Cost Methods

The average cost method is an inventory costing method where all costs of inventory are averaged out and applied to the cost of goods sold and ending inventory.

Security Measures

Steps or protocols implemented to protect assets, information, and people from theft, damage, and unauthorized access.